IBEC: business costs spiralling out of control

THE cost of doing business in Dublin is spiralling out of control, according to a new survey by employers group IBEC.

The group said its latest research showed business costs in the capital were rising three times as quickly as the general inflation rate and the future of homegrown companies and multinationals was at risk.

Total non-pay costs shot up by 18.5% over the last two years, according to IBEC’s figures. This compared unfavourably with the 5.9% increase registered in the Consumer Price Index over the same period.